Global UV Stabilizers Market Size, Trends, By Type (UV Absorbers, Hindered Amine Light Stabilizers, Quenchers, And Antioxidants), By Application (Coatings, Adhesives and Sealants, Plastics, Other Applications), By End-User (Architectural, Agriculture, Automotive, Furniture, Packaging, Other End-User), By Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa): Growth Opportunity Analysis and Industry Forecast, 2023-2030.
Global UV Stabilizers Market
The Global UV Stabilizers Market was valued at USD 1.7 billion in 2022 and is expected to expand to USD 2.65 billion by 2030, at a CAGR of 4.24% during the forecast period 2023-2030.
UV stabilizers are substances that are used to prevent a chemical process referred to as "photodegradation" which occurs when ultraviolet radiation coming from an artificial light source & the Sun collapses chemical bonds within a polymer. UV light stabilizers prevent the formation of microcracks and limit color fading so that components retain their essential aesthetic & physical properties.
Market Drivers
The increase in consumption in the polymer industry and rising demand for wood coatings drive the global UV stabilizers market over the forecast period of 2030. Nanocomposite application in UV stabilizers and their rising application in the pharmaceutical sectors will act as an opportunity for the market in the future.
Furthermore, the growing urbanization brought on by the expanding world population necessitates more homes, infrastructure, and commercial structures. This is increasing the demand for UV stabilizers in building & construction applications.
Market Restraints
The fluctuations in raw material prices and stringent government regulations will hinder global UV stabilizers market growth.
Market Segmentation
The global UV stabilizers market is segmented into type (UV absorbers, hindered amine light stabilizers, quenchers, and antioxidants), application (coatings, adhesives and sealants, plastics, other applications), and end-user industry (architectural, agriculture, automotive, furniture, packaging, other end-use industries).
Regional Analysis
The global UV stabilizers market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The Asia-Pacific region was the largest market for UV stabilizers owing to rapid growth in industries such as automotive, packaging, building, construction, and agriculture. The region uses plastic packaging with nations like India & China making significant contributions through their food & beverage sectors. The packaging sector has been a significant driver of innovation & technology in the country fueling the market for UV stabilizers in automotive applications.
Key Players
Various key players are discussed in the global UV stabilizers market report including; BASF SE, Evonik Industries AG, SONGWON INDUSTRIAL CO. LTD., Clariant AG, Solvay S.A., Unitechem Group, Everlight Chemical Industrial Corporation, Suqian Unitechem Group, Valtris Specialty Chemicals Inc., Mayzo, Inc., and Others.
Market Taxonomy
By Type
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